Bitcoin’s Breakout to $108,500 Keeps Failing for These Two Reasons —Both Fixable?

Bitcoin's price, trading near $92,500, is currently stalled despite an underlying inverse head and shoulders pattern targeting $108,500. The breakout repeatedly fails due to two main obstacles: the stubborn neckline resistance at $93,700 and weak support from large holders (whales), who have been reducing their BTC balances since November 19. This whale caution often leads to momentum fading after price spikes. However, both issues are considered fixable. A strong short squeeze setup exists, with $3.66 billion in short liquidation leverage on Binance versus $2.22 billion in long leverage. If buyers can force a daily close above $93,700, this squeeze could generate enough momentum to break past the next gateway at $94,600, potentially triggering the full move toward $105,200 and eventually the $108,500 target. The inverse head and shoulders pattern remains valid as long as Bitcoin stays above $83,800.

(Source：BeInCrypto)